Police say the victim, 17-year-old Isaiah Odom, was shot around 8:30 p.m. at 23rd and Titan streets not far from his Point Breeze home.
Police say the shooter, and possibly a second shooter, fired more than 20 shots while chasing him.
According to Philadelphia Police Chief Inspector Scott Small, the teen was shot multiple times in the chest.
He was found lying next to his bicycle.
Odom was taken to Children's Hospital of Philadelphia where he later died.
"Due to the fact that we found over 20 spent shell casings, and many of these spent shell casings were just a few feet away from where the victim was lying, where the victim collapsed, and the fact that this victim was shot multiple times by gunfire, it appears that the 17-year-old was the intended target," Small said.
Police are searching for the suspects who were last seen traveling south on 23rd Street in a gray sedan.
One suspect is described as wearing a light-colored sweatshirt. The second suspect was seen wearing all-dark clothing.
In a separate unrelated shooting, police say a 15-year-old boy was shot once in the shoulder and grazed by another bullet around 6 p.m. in North Philadelphia.
The gunfire erupted at 27th Street and Ridge Avenue.
He was taken to Temple University Hospital and placed in stable condition.
No arrests have been made.
Anyone with information is asked to call police at 215-686-TIPS.
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